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Ahlstrom Corporation Restructures in Response to Market
Helsinki, Finland, 29 April 2009 -- Ahlstrom Corporation, a leading manufacturer of specialty papers and nonwovens, announces that it will initiate a further restructuring program to adapt its operations to the challenging market conditions, with the aim of gaining annual cost reductions of EUR 50 million, with full effect in 2010.
The company will review its underperforming units and the overall cost structure, which might affect 400-500 Ahlstrom employees globally. The decisions related to individual actions will be made during 2009 and will be disclosed respectively. The cost of the program is estimated to be approximately EUR 40 million in 2009, of which 50% will be cash-related.
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